In the last month of 2017, global business leaders gathered in Guangzhou for the Fortune global forum. The three-day summit talks explored the dynamic frontier of international business.
Fortune Global Forum is hosted by Fortune Magazine and is organized by invitation only. Attendees are limited to the dignitaries of all countries, the chairmen, presidents, CEOs and senior executives of major multinational corporations. This year, many supreme Chinese entrepreneurs were invited to the forum including Jack Ma, Cook, Ma Huateng, Zhang Ruimin, Guo Terui and so on.
The Forum "Beyond Borders: A New World for E-Commerce" kicked off on December 8. Mr. Qiu Wenbin, the CEO of Baozun was invited and had dialogue with Mark Lautenbach - the President and CEO of Pitney Bowes, Hui Jialin - the President of FedEx in the Asia Pacific region, the CEO of CARS, Yang Haochung – the founder of Guazi.com and others.
People’s consumption experience has been changed by the rapid development of e-commerce. Consumers have moved away from physical stores to the global digital market to buy newer products at lower prices. Larger-scale cross-border transactions have been realized due to the retail upgrades drived by social media. As more and more consumers choose to buy products online, how can retail brands use e-commerce technology and best practice to grow their international businesses and increase revenue? What new challenges will it meet when e-commerce has gained a firm foothold in Asia and other emerging markets? Clay Chandler, the executive editor of Time’s International Department, presided over the forum and expressed his high interest in how Baozun helped brands to achieve their digital retail.
Mr. Qiu Wenbin, the CEO of Baozun noted that Alibaba and Amazon, as platforms, could provide E-commerce channels for brands but that was not enough if brands wanted to achieve E-commerce and digital selling. As the driving force behind the brand E-commerce, Baozun’s core value lies in providing one-stop, consumer-oriented Omni-channel business solutions for brands. Baozun can offer a complete set of services from the front-end store operations, digital marketing, customer service to the back-end IT solutions, warehousing and distribution. In addition, it also can cover the construction and connection of all channels including self-built official malls of brands, China’s largest online shopping platform Tmall and JD.com, social mobile mall and offline smart stores.
When Clay Chandler asked how Baozun helped partners to successfully build E-commerce business, Mr. Qiu said, “What we do is to connect brands, platforms and consumers together. We help brands to transform from traditional retailers to brand E-commerce operators and help them to run the overall business.” Apart from providing One-stop services for international brands like Microsoft, Panasonic, Philips, Nike and Samsung in the cooperation, Baozun also provides brands with customized solutions where E-commerce strategies will be tailored based on differentiated needs so as to expand the Chinese E-commerce market.
In addition, regarding how brands establish future Omni-channel retail, Mr Qiu said that ERP management system built by many big brands now is unable to control or adapt the new retail system. Nor enough to support E-commerce operation. Therefore, the first step to achieve brand E-commerce operation is to establish a set of systems adapting to Omni-channel strategy. Second is about data. Mr. Qiu remarked that big data had become one of the significant strategic deployments for many international top brands. Thus, for the establishment of database, data mining, analysis and application, these all require brands to develop a clear set of strategies.
Serve consumers by connecting, integrating and leveraging big data. Use data as the guide to precisely reach consumers and conduct targeted and integrated marketing. These are what brands need to consider and realize in the future retail. In the future, Omni-channel and Full-link will become brands’ new competiveness.
As the leader of brand E-commerce, Baozun has successfully empowered many partners with the realization of their layout and expansion in the E-commerce area. In the future, Baozun will continue to achieve technology upgrading and transformation and strengthen cooperative application of cloud computing, big data, AI and other technologies based on the horizon of science and technology to help brands take the lead in the future digital retail.